KEIWA Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	3,927	2,760	6,699	3,271	926
Depreciation & Amortization	1,731	1,590	1,515	1,348	1,092
Loss (Gain) From Sale of Assets	103	2	-582	123	105
Loss (Gain) From Sale of Investments	-	-6	-6	-96	-
Other Operating Activities	-968	-1,494	-1,300	-300	-109
Change in Accounts Receivable	726	-355	966	-1,875	-71
Change in Inventory	-213	345	299	-893	-72
Change in Accounts Payable	-214	-240	-1,230	756	-419
Change in Other Net Operating Assets	824	-155	399	-158	-228
Operating Cash Flow	5,916	2,447	6,760	2,176	1,224
Operating Cash Flow Growth	141.77%	-63.80%	210.66%	77.78%	-29.37%
Capital Expenditures	-2,181	-2,917	-4,109	-2,589	-1,641
Sale of Property, Plant & Equipment	9	12	706	3	3
Sale (Purchase) of Intangibles	-28	-50	-464	-44	-29
Investment in Securities	-518	-952	-138	355	-11
Other Investing Activities	-1	-	1	1	-1
Investing Cash Flow	-2,719	-3,907	-4,004	-2,274	-1,679
Long-Term Debt Issued	400	500	-	2,300	1,500
Long-Term Debt Repaid	-1,194	-1,255	-1,373	-1,479	-1,355
Net Debt Issued (Repaid)	-794	-755	-1,373	821	145
Issuance of Common Stock	-	-	-	4,312	1,588
Common Dividends Paid	-481	-721	-239	-118	-100
Other Financing Activities	-77	-70	-68	-64	-40
Financing Cash Flow	-1,352	-1,546	-1,680	4,951	1,593
Foreign Exchange Rate Adjustments	412	396	16	216	47
Miscellaneous Cash Flow Adjustments	-1	-	-1	-	1
Net Cash Flow	2,256	-2,610	1,091	5,069	1,186
Free Cash Flow	3,735	-470	2,651	-413	-417
Free Cash Flow Margin	17.68%	-2.67%	12.56%	-2.28%	-2.83%
Free Cash Flow Per Share	193.73	-24.39	137.69	-23.25	-25.72
Cash Interest Paid	27	33	44	50	48
Cash Income Tax Paid	963	1,505	1,081	306	183
Levered Free Cash Flow	3,520	-918.63	1,041	-898.25	-992.88
Unlevered Free Cash Flow	3,537	-898	1,069	-867.63	-962.25
Change in Working Capital	1,123	-405	434	-2,170	-790

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.